Tally.ERP9

Accounts Rules

Personal Account :-

            Debit the receiver 

            Credit the Giver.

Real Account:

            Debit What Come’s in,

            Credit What Goes Out.

Nominal Account:

            Debit All Expenses and Losses,

            Credit All Incomes and Gains.

Personal Account : This Rule Related to Name suppose Farhan,  Zaki, Reliable, ITT Council, any Persons name, Firm, Company, Trust, etc.

Transaction For Example -

Purchases Goods from Sanjay Pvt. Ltd. <----- Name is Personal Account Related

Cash Paid to Farhan <----- Name is Personal Account Related

Furniture Purchases From Zaki House <----- Name is Personal Account Related

Real Account: This Rule Related to Assets Suppose Cash, Furniture, Machinery, etc.

Purchases Goods from Sanjay Pvt. Ltd. <----- Assets is Related to Real  Account

Cash Paid to Farhan <----- Assets is Related to Real  Account

Furniture Purchases From Zaki House <----- Assets is Related to Real  Account

Nominal Account: This Rule Related Profit, Gains, Expenses and Losses, for Exp. Shop Rent, Salary, Electricity Bill, etc.

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